Mplx (NYSE:MPLX) Reaches New 12-Month High – Still a Buy?

Mplx Lp (NYSE:MPLX)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $53.55 and last traded at $52.49, with a volume of 5256527 shares trading hands. The stock had previously closed at $51.70.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America began coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays boosted their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Truist Financial upped their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Mplx Price Performance

The firm’s fifty day moving average price is $49.25 and its 200-day moving average price is $45.63. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock has a market cap of $53.47 billion, a P/E ratio of 12.38, a PEG ratio of 2.34 and a beta of 1.43.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Analysts forecast that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.9565 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.29%. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently made changes to their positions in MPLX. Cedar Wealth Management LLC purchased a new stake in Mplx during the 3rd quarter valued at $51,000. Geneos Wealth Management Inc. lifted its holdings in shares of Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 409 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Mplx during the fourth quarter valued at $98,000. Allworth Financial LP increased its holdings in Mplx by 25.1% in the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after buying an additional 517 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Mplx by 393.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after buying an additional 2,751 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.